CALIFORNIA FORECLOSURES INCREASE 20 PERCENT IN NOVEMBER

State Leads Nation in Total Foreclosures; Foreclosure Rate in Nation’s Top 10

 

IRVINE, Calif. – Dec. 11, 2006 – California led the nation in total foreclosure activity for the second straight month, reporting 19,248 properties entering some stage of the foreclosure process in November, up 20 percent from the 16,098 properties reported in October, and soaring 218 percent above the 6,051 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 700,000 properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“The California real estate market continues to show signs of weakening as sales activity and price appreciation have declined sharply in recent months,” said James J. Saccacio, chief executive officer of RealtyTrac. “Low housing affordability, along with a growing inventory of unsold housing on the market and slower job growth are also factors that are contributing to the high upswing in foreclosure numbers we are currently seeing throughout the state.”

 

California’s foreclosure total extended its lead over second place Florida with 5,500 more foreclosures in November. California’s lead also widened over third place Texas.

 

Reporting one new foreclosure for every 635 households — 1.5 times the national average — the state’s foreclosure rate now ranks as 7th highest in the nation. The remaining states in the nation’s top 10 foreclosure total list are Ohio, Michigan, Georgia, Illinois, New Jersey, Colorado and New York.

 

Five Southern California counties account for lion’s share of state total

Foreclosure totals for five Southern California counties together accounted for 63 percent of all foreclosures in California during November. The largest foreclosure total for the month was found in Los Angeles County, where 4,493 properties entered some stage of the foreclosure process. Next highest total was found in Riverside County, where 2,998 properties entered some stage of foreclosure, followed by San Bernardino County, where 2,054 properties entered the foreclosure process. San Diego County reported the fourth highest total with 1,402 properties entering foreclosure. Orange County completed the top five, reporting 1,185 properties entering the foreclosure pipeline.

 

Inland Empire leads state in foreclosure rates

Riverside and San Bernardino counties led the state in foreclosure rate for November. Riverside County documented the highest rate, one new foreclosure filing for every 195 households — 3.3 times the state average and 4.9 times the national average. San Bernardino documented the second highest rate, one new foreclosure filing for every 293 households — 2.2 times the state average and 3.3 times the national average. Reporting the third highest foreclosure rate in the state was Solano County, with one new filing for every 305 households, followed by San Joaquin County, reporting one new foreclosure for every 318 households during the month. Contra Costa County rounded out the state’s top five with one new filing for every 364 households.

 

California the largest contributor to national total this month

California’s foreclosure activity accounted for 16 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents an increase of 4 percent from the 115,568 foreclosures reported in October. The national foreclosure rate increased to one new foreclosure filing for every 961 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repossessed by a bank).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

                           California Foreclosure Market by County – Nov 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

31,027

44,448

5,685

16,263

22,911

120,334

961

n/a

n/a

California

16,270

2,451

0

0

527

19,248

635

1.51

 

 

 

 

 

 

 

 

 

 

Alameda

384

78

0

0

20

482

1,121

0.86

0.57

Amador

5

3

0

0

1

9

1,671

0.58

0.38

Butte

24

5

0

0

0

29

2,949

0.33

0.22

Calaveras

7

1

0

0

0

8

2,868

0.34

0.22

Colusa

7

0

0

0

0

7

968

0.99

0.66

Contra Costa

871

87

0

0

16

974

364

2.64

1.74

Del Norte

7

2

0

0

0

9

1,159

0.83

0.55

El Dorado

76

26

0

0

0

102

699

1.38

0.91

Fresno

457

69

0

0

20

546

496

1.94

1.28

Glenn

3

2

0

0

0

5

1,996

0.48

0.32

Humboldt

17

2

0

0

1

20

2,796

0.34

0.23

Imperial

42

22

0

0

1

65

675

1.42

0.94

Inyo

0

0

0

0

0

0

n/a 

0.00

0.00

Kern

432

58

0

0

14

504

459

2.09

1.38

Kings

17

5

0

0

0

22

1,662

0.58

0.38

Lake

22

6

0

0

2

30

1,084

0.89

0.59

Lassen

1

0

0

0

0

1

12,000

0.08

0.05

Los Angeles

3,777

559

0

0

157

4,493

728

1.32

0.87

Madera

29

7

0

0

3

39

1,036

0.93

0.61

Marin

19

7

0

0

0

26

4,038

0.24

0.16

Mariposa

8

2

0

0

2

12

736

1.31

0.86

Mendocino

13

3

0

0

0

16

2,309

0.42

0.27

Merced

146

14

0

0

3

163

419

2.29

1.51

Mono

0

0

0

0

0

0

n/a  

0.00

0.00

Monterey

49

7

0

0

3

59

2,223

0.43

0.29

Napa

33

6

0

0

1

40

1,214

0.79

0.52

Nevada

18

1

0

0

1

20

2,214

0.43

0.29

Orange

1,077

94

0

0

14

1,185

818

1.17

0.78

Placer

133

23

0

0

2

158

679

1.41

0.93

Plumas

4

1

0

0

0

5

2,677

0.36

0.24

Riverside

2,666

287

0

0

45

2,998

195

4.93

3.25

Sacramento

389

301

0

0

43

733

648

1.48

0.98

San Benito

13

4

0

0

1

18

917

1.05

0.69

San Bernardino

1,803

198

0

0

53

2,054

293

3.28

2.17

San Diego

1,207

167

0

0

28

1,402

742

1.30

0.86

San Francisco

76

13

0

0

1

90

3,850

0.25

0.16

San Joaquin

499

84

0

0

11

594

318

3.02

1.99

San Luis Obispo

61

12

0

0

6

79

1,295

0.74

0.49

San Mateo

151

17

0

0

1

169

1,542

0.62

0.41

Santa Barbara

71

16

0

0

1

88

1,624

0.59

0.39

Santa Clara

293

40

0

0

14

347

1,670

0.58

0.38

Santa Cruz

34

5

0

0

6

45

2,197

0.44

0.29

Shasta

43

13

0

0

3

59

1,166

0.82

0.54

Siskiyou

5

2

0

0

1

8

2,743

0.35

0.23

Solano

379

52

0

0

10

441

305

3.15

2.08

Sonoma

79

13

0

0

7

99

1,850

0.52

0.34

Stanislaus

344

57

0

0

12

413

365

2.63

1.74

Sutter

28

10

0

0

1

39

726

1.32

0.87

Tehama

25

6

0

0

7

38

620

1.55

1.02

Tulare

153

19

0

0

2

174

688

1.40

0.92

Tuolumne

5

1

0

0

0

6

4,723

0.20

0.13

Ventura

192

28

0

0

12

232

1,085

0.89

0.58

Yolo

42

5

0

0

0

47

1,310

0.73

0.48

Yuba

34

11

0

0

1

46

492

1.95

1.29

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest-growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit www.realtytrac.com.

 

###

 

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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